This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Enzo Biochem Reports First Fiscal Quarter Results

Stocks in this article: ENZ

Enzo Biochem Inc. (NYSE:ENZ) today reported results for the fiscal first quarter ended October 31, 2013. Highlights include:

  • Net loss for the quarter was reduced by over $0.9 million from a year ago and $0.3 million sequentially.
  • Sequential revenue increased by $0.9 million, driven by strong growth in Clinical Labs, which offset continued general market weakness affecting Life Sciences.
  • EBITDA (earnings before interest, taxes, depreciation and amortization) improved by $0.8 million sequentially, and $1.0 million year-over-year.
  • Sequentially, gross margins showed improvement across the board, up $1.1 million.
  • Gross profit, as a percentage of revenues, improved sequentially from 41% to 44%.
  • Operating expenses, relating to SG&A, declined $0.9 million or 8% over the prior year.

“The year is off to a good start with improved first quarter results and we continue to remain focused on our developing technologies that offer enhanced efficiencies and materially reduced costs for the clinical diagnostics market in addition to new assays in line with increasing attention paid to molecular diagnostics. We are moving to increase our position as a segment innovator and in that regard have underway the development of a strategic program incorporating comprehensive molecular diagnostic products and services based on high performance new platforms focusing on, amongst others, women’s health. These would be directed to meeting today’s demand for more cost-efficient healthcare, while providing better delivery, wider access and improved diagnostic quality, in addition to representing a valuable new business direction for Enzo Biochem,” said Barry Weiner, Enzo President. “We continue to expand our portfolio of specialized testing at the clinical laboratory. The recently announced partnerships with Sequenom and others are a further commitment to the field of molecular and companion diagnostics and support Enzo’s ability to provide its customers with high-value esoteric testing services. This quarter also highlighted a peer reviewed publication detailing the work we have done in potentially identifying an infectious disease link to idiopathic pulmonary fibrosis (IPF) that may allow Enzo to develop the first broadly-based human diagnostic for this fatal condition. Finally, we remain steadfast in our determination to realize value from our extensive intellectual property estate. We believe the upcoming litigation provides the Company with a promising opportunity to realize the value of its intellectual property.”

1 of 5

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,356.87 +288.00 1.69%
S&P 500 2,012.89 +40.15 2.04%
NASDAQ 4,644.3120 +96.4780 2.12%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs